Cloud Gaming Market is Forecast to Reach US$ 10.5 Billion in 2027, Says Stratview Research
Tuesday, December 5, 2023
The cloud gaming market is likely to rise at a CAGR of 29.1% during 2022-2027, to reach US$ 10.5 billion in 2028, states Stratview Research.
DETROIT, Nov. 27, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global cloud gaming market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.
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Click here for a free sample pdf:
https://www.stratviewresearch.com/Request-Sample/909/cloud-gaming-market.html#form
Report Highlights
Market Size in 2027 USD 10.5 billion
Growth (CAGR) 29.1% during
2022-2027
Forecast Period 2022-2027
Trend Period 2016-2020
Base Year 2021
Number of Segments Covered 5
Number of Tables & Graphs 60+
Country-Level Market Assessment 20
Segment Insights on Cloud Gaming Market
The global cloud gaming market is segmented based on streaming type, device type, genre type, gamer type, and region.
Based on streaming type - The market is bifurcated into video streaming and file streaming. Video streaming is likely to remain the bigger demand generator for cloud gaming platforms in the foreseeable future. This segment held more than 80% market share in 2021. The key factors driving the segment's dominance are on-demand streaming requirements as well as the ability to be effective for shorter periods of play. Furthermore, a paradigm shift from console and disc-based gaming to cloud-based gaming ensures a massive demand for cloud gaming platforms in the coming years.
Based on the device type - The market is segmented as PC & laptops, smartphones, smart TVs, and gaming consoles. Smart TVs remain at the nucleus for all the leading market stakeholders serving the cloud gaming industry. The smart TVs segment held more than 35% market share in 2021. A smart TV provides a better gaming experience to its gamers with features such as a 4K display and better feasibility in using cloud gaming platforms with the help of a controller. Partnerships with smart TV manufacturers, OTT providers, and setup box providers to reach a large number of cloud gaming users are likely to provide market stakeholders with enormous growth potential. It is also anticipated that Smart TV will remain the most preferred device type in the market in the foreseen future.
Based on the genre type - The market is segmented as puzzles & social games, adventure & sports, and arcade. Among these genre types, puzzles & social games are the most widely played category on cloud gaming platforms, as players choose to play these games with their friends in order to socialize with them, implying that the market for puzzles & social games is rising. In addition, comprehending the game takes less time in this category. Moreover, the puzzles & social games held more than 35% market share in 2021.
Based on the gamer type - The market is segmented into casual gamers and hardcore gamers. Between these gamer types, casual gamers dominate the market, whereas hardcore gamers continue to prefer console gaming. Casual gamers prefer cloud gaming because it is more cost-effective. In addition, the casual gamer segment held more than 70% market share in 2021.
To know the attractive segments, click here for a free sample pdf:
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Which Region Offers the Best Opportunity and Growth?
The report suggests that Asia-Pacific held more than 35% market share in 2021 and is expected to remain the largest market for cloud gaming over the forecast period. This growth is majorly attributed to the following -
- Japan, India, and Southeast Asia are the preferred destinations for gaming companies to expand in Asia.
- The leading player in the market, Sony Corporation has expansion plans in the region.
- Already existing 5G infrastructure in countries such as Malaysia and Thailand is creating healthy demand for the market.
- The partnership between Blacknut and Celcom telecommunication, Tencent to launch its cloud gaming platform in Southeast Asian countries, and the development of 5G infrastructure in key Asian economies such as India and China are likely to generate huge demand for cloud gaming in the region.
Cloud Gaming Market Drivers
Some of the key drivers listed in the report are given below.
- The year 2021, was an annus mirabilis for cloud gaming with a surge in the number of internet users and consumer spending, which has been increasing year on year.
- An expected growth in 5G infrastructure is likely to drive the demand for the market by reducing latency issues when streaming video games.
- The long-term market outlook seems favorable, with ample growth opportunities across regions.
- An ongoing shift from consoles to cloud-based gaming.
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at sales@stratviewresearch.com
Top 5 Companies in the Cloud Gaming Market?
The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.
- Sony Corporation
- Nvidia Corporation
- Microsoft Corporation
- Amazon Inc.
- Ubitus K.K.
What Deliverables Will You Get in this Report?
Key questions this report answers Relevant contents in the report
How big is the sales opportunity? In-depth analysis of the Cloud Gaming Market
How lucrative is the future? Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities? Global, regional, and country-level historical
data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning? Competitive landscape analysis, Market share
analysis
How complex is the business environment? Porter's five forces analysis, PEST analysis, Life
cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirements?
10% free customization
Related reports which might be useful:
-- 5G IoT Market
-- Data Center Power Market
About us -
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. The reliability and insightfulness of the reports enable the readers take convincing business decisions.
Stratview Research has been helping companies to meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
Are you looking for any specific data customized to your objectives? We are just a mail away.
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176
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SOURCE Stratview Research
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